P700 Title or not to title

[David-1964]

Should I bother with titling the purchase from an individual?

 

[Admin]

 

[1950Willys]

I would to prove ownership and if you insure it most insurance companies require a title if a claim is presented.

 

[Dirtstiffs-1000]

Or if there is a lien or loan on it, you need a title.

 

[Swampdog]

Good idea to title it, someday you might want to sell it and it will be helpful in the transaction.

 

[Headhunterf100]

I have yet to title mine from a private individual purchase and I am actually currently in process of putting insurance on it. My insurance guy said its not an issue with not having it titled yet ( Thanks Covid )

 

[TripleB]

I've owned four wheelers that I got used for years and never transferred them to my name. I just kept the signed title and when I resold them, I would pass along the title. That was just to avoid paying sales tax.

 

[highpocket74]

I've owned four wheelers that I got used for years and never transferred them to my name. I just kept the signed title and when I resold them, I would pass along the title. That was just to avoid paying sales tax.

That's when 4-wheelers were $3-5K. New SXS's are the price of a car and if you sell then most people will not have the cash to buy it on spot. In Louisiana the penalties after 30 days of not registering start adding up quickly as I learned on a 400ex purchase. Not doing that again.

 

[TripleB]

That's when 4-wheelers were $3-5K. New SXS's are the price of a car and if you sell then most people will not have the cash to buy it on spot. In Louisiana the penalties after 30 days of not registering start adding up quickly as I learned on a 400ex purchase. Not doing that again.

It's a cash man's game especially now with everything computerized. I know 2 people that got the old tax bill a year later when buying out of state but having to finance.

 

[TripleB]

That's when 4-wheelers were $3-5K. New SXS's are the price of a car and if you sell then most people will not have the cash to buy it on spot. In Louisiana the penalties after 30 days of not registering start adding up quickly as I learned on a 400ex purchase. Not doing that again.

I'm not saying do it by no means. Just stating the only benefit of not registering. A used 700 could easily be less than 10k. But still yet most people don't have that on hand either. Taxes on 10k here would be over $900.